Valero Energy (NYSE:VLO) Sets New 52-Week Low on Analyst Downgrade

Valero Energy Co. (NYSE:VLO)’s share price reached a new 52-week low during trading on Tuesday after Mizuho lowered their price target on the stock from $171.00 to $165.00. Mizuho currently has an outperform rating on the stock. Valero Energy traded as low as $123.63 and last traded at $124.79, with a volume of 247502 shares. The stock had previously closed at $125.07.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler cut shares of Valero Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $169.00 to $123.00 in a research note on Friday, September 20th. BMO Capital Markets dropped their target price on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. decreased their price target on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Citigroup dropped their price objective on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Company decreased their target price on shares of Valero Energy from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.07.

Hedge Funds Weigh In On Valero Energy

Large investors have recently modified their holdings of the business. 1ST Source Bank raised its stake in shares of Valero Energy by 3.3% in the 3rd quarter. 1ST Source Bank now owns 4,286 shares of the oil and gas company’s stock valued at $579,000 after acquiring an additional 135 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Valero Energy in the 3rd quarter valued at approximately $2,283,000. Franklin Resources Inc. raised its position in Valero Energy by 5.6% in the third quarter. Franklin Resources Inc. now owns 4,687,585 shares of the oil and gas company’s stock valued at $639,268,000 after purchasing an additional 247,630 shares during the period. Synovus Financial Corp lifted its stake in Valero Energy by 43.6% during the third quarter. Synovus Financial Corp now owns 20,642 shares of the oil and gas company’s stock worth $2,787,000 after purchasing an additional 6,272 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Valero Energy during the third quarter worth $342,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Stock Performance

The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $38.54 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 2.43 and a beta of 1.39. The firm has a 50-day moving average price of $135.31 and a 200 day moving average price of $142.63.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The company had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. Valero Energy’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same period last year, the business posted $7.49 EPS. Research analysts expect that Valero Energy Co. will post 8.86 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s payout ratio is currently 38.39%.

Valero Energy Company Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.